Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Alabama
ALARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
112.44
Year-over-Year Change
23.28%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services industries in Alabama. It provides insight into the performance and growth of these key sectors in the state's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The chain-type quantity index for real GDP tracks the inflation-adjusted output of specific industries over time. This metric allows economists and policymakers to analyze productivity, growth, and structural changes within Alabama's service-oriented economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Historical Context
This economic indicator is used to inform policy decisions and market analysis related to Alabama's tourism, hospitality, and leisure industries.
Key Facts
- Chain-type index, base year 2012.
- Covers NAICS sectors 71 and 72.
- Adjusted for inflation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chain-type quantity index for real GDP in the arts, entertainment, recreation, accommodation, and food services industries in Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the performance and growth of key service sectors in Alabama's economy, which are crucial for understanding the state's economic development and policy needs.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using a chained-dollar approach.
Q: How is this trend used in economic policy?
A: This economic indicator is used to inform policy decisions and market analysis related to Alabama's tourism, hospitality, and leisure industries.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revision policies of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Alabama (ALARTETRTACCFDQGSP), retrieved from FRED.